Climate change is critical to future energy markets but its effect on Chevron Corp.'s oil and gas business will be minimal for decades to come, the company said in a report Thursday.
With the prospect of tighter emission controls, carbon pricing and growth in renewable energy, some investors and activists are pushing companies to reveal the potential impact on their businesses. The risk for shareholders is that some projects become loss-making as the demand for oil and gas ebbs.
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Now signed by the US president and thus fully formalized, the watered-down version of Biden’s climate campaign bill – full of compromises to get conservative Democrats on aboard and thus attracting critique from many observers – nonetheless contains the nation’s most sweeping legislation supporting the green transition to date, thereby on account of sheer size reviving some hope of averting the worst outcome for global climate.